How Does CPEC Benefit Pakistan?
The collection or group of infrastructure projects which are under process in Pakistan referred to China Pakistan Economic Corridor (CPEC). It is a notable project of the “One Belt and One Road Initiative” connecting 60 above countries, including Asia, Africa, and Europe. Additionally, the plans of CPEC also include Hydro, Nuclear, Energy and Solar power, industrialization, infrastructure development, and improvement of Gwadar port. It has good potential regarding trade and economics as well as in the regional domain. CPEC is a route towards success and goodwill between Pakistan and China. Analyses of a benefit show that the CPEC has a great ability to bring economic stability.
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Economic and Strategic Conditions
According to inside sources, a negative impact is creating that CPEC project will destroy the employment of Pakistani market and local industries products. China is one of the emerging strategic runners in the recent landscape of geo-political of the world. The whole plan or gambit of Gwadar port is the keystone and a Gateway to Central Asia and South West. It has strategic expansion from the Persian Gulf across the Indian Ocean to South East Asia and the Far East. Gwadar is situated at the crossroads of three sub-regional systems, overpass the distance for transportation of the important energy source. As China is investing and all other multinational corporations are interested in investing in Pakistan, CPEC will bring the revival of the economy, the help to expand the economic activities in the country. Through CPEC, the strategic situation will improve by implementing powerful ideas and techniques to take it to the level of success. The economic and diplomatic conditions will get better by the time if given the proper attention.
Key Points for Pakistan
CPEC has the great potential to bring opportunities for Pakistan and sustain economic development in the best possible ways. Infrastructure improvement and development both are essential factors.
- Logistic Chain, Trade Facilitation and Infrastructure development in an efficient manner
- For the funding of economic programs, exploration and development of mineral resources are important
- Trade routes that are highways, oil pipelines and railways, regional connectivity plays a vital role in major ports of the country
- Skilled Human Resources development
- Development of Water and Hydro Power which include mega-dam on Indus Cascade coupled with medium-sized HPPs
- Special Economic Zones and Transit facilities with Corridor development
- Expansion of oil storages that are connected through pipelines
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CPEC can be said as a beneficial source for Pakistan as it is providing multiple opportunities with numerous resources. It is a vital chance for Pakistan to realize the importance and potentiality of strategic and economic conditions. Through different sectors are taking strong initiatives with our socio-economic imperatives to sustain healthy development. This shaking hands to bring up the positive vibes between both the nations and for the growth of its financial institutions.
